FNC Index: Houston home values drop significantly in November

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After a nine-month run of home values increases, the inevitable slip happened in November. Released January 19, the FNC Residential Price Index reported that home prices in November remained largely unchanged, a dip of 0.1 percent, from October but are still increasing on an annual basis.

National home prices increased 6 percent annually in November.

“Despite recent months’ more upbeat data on new home sales and residential construction, prices have been relatively stable since August, with month-to-month momentum showing no significant gains, neither decelerating nor accelerating rapidly,” said Yanling Mayer, FNC‘s housing economist and Director of Research.

However, some metros did see month-over-month gains.

San Francisco, increase of 2 percent

San Diego, increase of 1.7 percent

Los Angeles, increase of 1.6 percent

Boston, increase of 1.4 percent

San Antonio, increase of 1.3 percent

In November 2015, some cities posted year-over-year gains in the double digits:

Miami, increase of 13 percent

Portland, increase of 12.9 percent

Denver, increase of 12 percent

San Francisco, increase of 11.3 percent

Phoenix, increase of 10.5 percent

Orlando, increase of 10.4 percent

Sacramento, increase of 10.1 percent

Dallas, increase of 10 percent

In November 2015, these are the cities with the largest year-to-date change:

San Francisco, increase of 13.9 percent

Portland, increase of 11.8 percent

Sacramento, increase 11.7 percent

Cincinnati, increase of 11.1 percent

Denver, increase of 11.1 percent

Miami, increase of 11.1 percent

Nashville, increase of 10.1 percent

Phoenix, increase of 10 percent

Houston saw a 3.3 percent dip in November 2015 over the previous month, making it the worst reported monthly home value trends in the reported MSAs.